Singapore

IT DOESN'T pay to short-sell Olam International's shares - in a quiet session for the local stock market on Friday, the main talking point came from an unexpected source - the buying-in segment, where a whopping 13.2 million shares of Olam International that were short-sold on Tuesday were queued to be bought in but only 4.12 million were done at 5pm.

Because the short sale was done at S$2.15 and because Friday's buying-in was between S$2.25 and S$2.43 for an average of about S$2.35, the loss to the short-seller so far is estimated at around S$800,000 - with more to come.